The Wall Street Journal: Walmart to buy SoftBank’s stake in India’s Flipkart

TOKYO — SoftBank Group Corp. said Wednesday it has agreed to sell its entire stake in India’s Flipkart Group to Walmart Inc.

The operator of the world’s largest technology fund — which holds a 21% stake in Flipkart — had delayed a decision to participate in Walmart’s $16 billion deal to take control of India’s largest e-commerce company.

It was weighing tax considerations, the impact of Walmart’s plan to list Flipkart within four years, and a possible larger investment in Indian mobile-payment startup Paytm, a person familiar with the details said.

A SoftBank 9984, -1.92% spokesman declined to comment beyond confirming the sale.

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